Vietnam Industry February 2016

Vietnam: Industrial output expands in February

February 28, 2016

In February, industrial output rose 7.9% over the same month of the previous year, which marked an acceleration over the 5.9% rise recorded in January. The reading came on the back of an expansion in four of the five components of the index, which more than offset a drop in the mining and quarrying component.

Industrial production in February declined a whopping 22.3% over the previous month, which came in below the 2.6% contraction observed in January. February’s result is the worst reading on record. Meanwhile, annual average growth in industrial production inched up from 9.0% in January to 9.1% in February.

FocusEconomics Consensus Forecast participants estimate that industrial output will grow 10.0% in 2016, which is up 0.6 percentage points from last month’s forecast. For 2017, panelists expect that industrial production will expand 9.8%.